The race was won by Wiles' team mate Lindsey Vonn.
"We are all extremely disappointed that Jackie suffered this injury so close to the Games," said Luke Bodensteiner, U.S. Ski & Snowboard Chief of Sport, in a statement.
"It’s a big loss to our alpine ski team, especially after her very strong results this season."
Wiles, who competed in the downhill at the Sochi Games, finished third in the downhill in Cortina d'Ampezzo, Italy last month.
A decision on whether Wiles will be replaced in the U.S. squad had yet to be made, the statement said.
The Olympics run from Feb. 9-25 in Pyeongchang, South Korea.
(Writing by Peter Rutherford in Pyeongchang; Editing by Amlan Chakraborty)
